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Earnest money in a real estate transaction is a deposit made by the buyer to show their commitment to purchasing the property. It demonstrates the buyer's seriousness and is typically held in escrow until the sale is finalized.
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What it mean by earnest money is non refundable after due diligence?
In the state of Oklahoma, the Buyer has ten days (unless specified otherwise) to perform inspections on the property and complete underwriting requirements for his/her Lender. If the inspections turn up something that alarms the Buyer or the Lender discovers that the Buyer is not truly qualified, his/her earnest money will be returned and the contract is voided. So, during that time period, the Buyer is doing his "due diligence." If, however, after that time, the Buyer simply decides not to continue with the transaction, his earnest money is non-refundable.
What does it mean when a transaction is debited to your account?
When a transaction is debited to your account, it means that the amount of money has been taken out or deducted from your account.
What does pay to the estate of mean?
It means that the money will be going to a trust or estate instead of an individual person. The estate can represent one or more individuals or just be an entity of itself.
What does transaction declined 072 mean?
It means that the money in your bank has no money in it,or that someone has been using the credit card to much Hope that helped ya'll Bye
What does D mean on a ATM statement?
D stands for Debit on an ATM statement. A Debit is a transaction wherein money is debited or withdrawn or taken out from your bank account. For Ex: You use your ATM card to withdraw money from an ATM, this transaction will be reflected as Debit in your account because you have taken money from your account.
What does PP mean in real estate?
PP in real estate usually refers to Purchase Price
What it mean by earnest money is non refundable after due diligence?
In the state of Oklahoma, the Buyer has ten days (unless specified otherwise) to perform inspections on the property and complete underwriting requirements for his/her Lender. If the inspections turn up something that alarms the Buyer or the Lender discovers that the Buyer is not truly qualified, his/her earnest money will be returned and the contract is voided. So, during that time period, the Buyer is doing his "due diligence." If, however, after that time, the Buyer simply decides not to continue with the transaction, his earnest money is non-refundable.
What does it mean if someone is out of pocket?
It means they have no money in their pockets - they lost money in a transaction.
What does it mean when a transaction is debited to your account?
When a transaction is debited to your account, it means that the amount of money has been taken out or deducted from your account.
What is transaction media?
Transaction to do a certain business transactions mean it is a business dealing which involves transfer of money or money's worth from one person to another By - Nalini & raje
What does duality mean in accounting terms?
Every transaction has a dual effect (where the money came from, where the money goes to).
What mean Broker of record in real estate?
The Broker Of Record is the Broker covering the listing or buying side in a Real Estate transaction. He/she is registered as the person responsible for the conduct of a brokerage and the agents who work for it.
What does CPT mean on a mini statement?
Cash point transaction (money you have withdrawn from the hole in the wall)
What does debit an account mean?
A Debit is a transaction wherein money is debited or withdrawn or taken out from your bank account. For Ex: You use your ATM card to withdraw money from an ATM, this transaction will be reflected as Debit in your account because you have taken money from your account.
What does principal mean in real estate?
For any business the principle means money.
What does pay to the estate of mean?
It means that the money will be going to a trust or estate instead of an individual person. The estate can represent one or more individuals or just be an entity of itself.
What does the term 'transaction cost' mean in relation to economics?
The transaction cost means the price you pay for a certain item or service. This is the money that is transferred between customer and service provider.
